C M Bidwell & Associates Ltd. Has $308,000 Stock Holdings in NetApp, Inc. (NASDAQ:NTAP)

C M Bidwell & Associates Ltd. boosted its position in shares of NetApp, Inc. (NASDAQ:NTAP) by 202.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,657 shares of the data storage provider’s stock after purchasing an additional 1,779 shares during the period. C M Bidwell & Associates Ltd.’s holdings in NetApp were worth $308,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of NetApp during the 4th quarter valued at about $26,000. Assetmark Inc. lifted its stake in NetApp by 826.9% in the fourth quarter. Assetmark Inc. now owns 241 shares of the data storage provider’s stock valued at $28,000 after acquiring an additional 215 shares during the last quarter. Synergy Investment Management LLC bought a new stake in NetApp in the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of NetApp during the 4th quarter worth $35,000. Finally, OFI Invest Asset Management bought a new position in shares of NetApp during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Trading Down 3.0 %

NetApp stock opened at $88.40 on Monday. The business has a 50 day moving average price of $109.82 and a two-hundred day moving average price of $117.26. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp, Inc. has a 12 month low of $86.95 and a 12 month high of $135.45. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

NetApp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.08 annualized dividend and a yield of 2.35%. NetApp’s dividend payout ratio (DPR) is currently 38.52%.

Analyst Ratings Changes

Several equities analysts have commented on NTAP shares. Bank of America raised shares of NetApp from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. Citigroup cut their price objective on NetApp from $135.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Morgan Stanley upped their target price on NetApp from $132.00 to $146.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 17th. Susquehanna lowered shares of NetApp from a “positive” rating to a “neutral” rating and dropped their price target for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Finally, Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective (down from $120.00) on shares of NetApp in a report on Friday, February 28th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, NetApp currently has a consensus rating of “Hold” and an average price target of $129.07.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total transaction of $52,672.29. Following the completion of the transaction, the executive vice president now owns 12,005 shares in the company, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Berry sold 12,500 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares of the company’s stock, valued at approximately $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,931 shares of company stock worth $3,722,979 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

NetApp Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.